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> OpenAI is worth many multiples of that

valued at --which I'd say is a reasonable distinction to make right about now

Their revenue is 20B, so they still worth multiples of 10B regardless of valuation even if you consider the basic 5x revenue valuation

https://www.reuters.com/business/openai-cfo-says-annualized-...

"The basic 5x revenue valuation" doesn't work for businesses that aren't profitable.

It is also unclear to me how much real debt they carry. They have famously been signing many deals: RAM, datacenters, maybe nuclear power plants -I no longer know what is a joke or not. They must be carrying hundreds of billions in paper debt obligations, which is tough to payback at $20B revenue.

I'm giddy about reading their S1 in the near future. We're about to have another "We What the Fuck" moment.

> Their revenue is 20B, so they still worth multiples of 10B regardless of valuation...

I can easily generate double that revenue, by selling $20 bills for $10.

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